Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $77.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective reduced by equities research analysts at BMO Capital Markets from $85.00 to $77.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the information technology service provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 17.79% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Susquehanna reiterated a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Mizuho initiated coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price objective on the stock. Barclays dropped their target price on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Citigroup dropped their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.63.

Cognizant Technology Solutions Stock Performance

CTSH stock opened at $65.37 on Tuesday. The firm has a market cap of $32.54 billion, a PE ratio of 15.56, a P/E/G ratio of 1.52 and a beta of 1.06. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $72.84 and a 200-day moving average of $72.51. Cognizant Technology Solutions has a 12-month low of $58.47 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. As a group, sell-side analysts expect that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Insider Activity at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the third quarter worth about $27,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 193 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $40,000. Finally, Quarry LP bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.